XML 35 R14.htm IDEA: XBRL DOCUMENT v3.23.2
Income Taxes
6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes
7. Income Taxes
We estimate our annual effective tax rate to be 28.5% for the full year 2023, which differs from the U.S. federal statutory rate due to state and foreign income taxes, nondeductible executive compensation, and increases to unrecognized tax benefits, partially offset by federal tax credits generated. Our actual effective tax rate of 26.5% for the six months ended June 30, 2023 was primarily due to income tax expense from normal, recurring operations, partially offset by discrete excess tax benefits recognized for share-based compensation for employees, net of disallowed executive compensation.